Market Outlook & Key Findings
- The global anatomic pathology market is expected to witness a CAGR of over 7.1% between 2020 and 2030.
- The US and Europe are among the most lucrative markets for anatomical pathology market globally
- Covid-19 on R&D and funding to recede by second quarter of 2021
- Focus on developing accurate and quicker methodologies to gain momentum
Biomarkers-based pathology tests and procedures are being carried out for exploring tumorigenesis and common malignancy.
This can be attributed to the fact that biomarkers’ clinical use enables pathologists to diagnose disease pathogenesis at molecular level.
It also guides in taking clinical decisions, thereby positively impacting the patient outcomes.
As of now, biomarkers are used in several clinical studies in genomics, metabolomics, transcriptomic, and proteomics for evaluating physiological, pharmacological, and disease processes.
Digital microscopes, gross imaging, and staining systems are slated to enhance the anatomic pathological processes to a greater extent.
These solutions make way for precision-related benefits and specificity over the traditional techniques. This, in turn, has boosted uptake rate on a holistic level.
The anatomic pathology market players are taking continuous efforts with respect to developing upgraded and advanced pathology equipment.
For instance –
- In Jul 2020, the US FDA approved the new-fangled VENTANA HER2 Dual ISH DNA Probe Cocktail assay to detect HER2 biomarker in the form of a companion diagnostic for trastuzumab therapy for breast cancer
- In Apr 2020, Gestalt Diagnostics announced that it was selected as one of the digital pathology solutions for Poplar Healthcare. The latter one holds the distinction of providing anatomic pathology services through CAP-accredited and CLIA-certified laboratory
- Inspirata Inc., in Mar 2019, collaborated with OSUCCC-James with the objective of creating big repositories related to diagnostic quality. The basic purpose of this acquisition is to give anatomic pathology labs access to products of the highest quality
- Nichirei Bioscience, in Jan 2019, entered into collaboration with Biocartis Group NV for getting regulatory approval for Idylla MDx oncology tests from the Japanese Ministry of Health, Labour, and Welfare
- Sakura Finetek USA, in Oct 2018, entered into partnership with Laboratory Medicine and Henry Ford Health System pathology for advancing its anatomic pathology laboratories’ automation level. This automation optimizes workflows of anatomic pathology by reducing turnaround time and errors, thereby offering higher productivity
- In Sep 2018, Sakura Finetek also launched manual microtome “Accu-Cut SRM 300 LT”. It was later integrated with 4-color LED-backlit 3D Precision Chuck. It is a novel feature facilitating paraffin-embedded tissue samples for rapidly visualizing translucent biopsies in a simplified way
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Impact of Covid-19
The outbreak of Covid-19 has slowed down the anatomic pathology market.
As such, the pathology has shifted towards Covid-19 tests. Anatomic pathology has taken a backseat since the first quarter of 2020 and the scenario is expected to persist till the second quarter of 2021. FMI believes recovery to begin in or after the second quarter of 2021
Product and Application Insights
A sizable number of probes, antibodies, kits, and reagents are getting marketed to address anatomic pathology protocols.
Some of them include CISH Centromere Detection kits from Thermo Fisher, Roche’s ISH iVIEW Blue Plus Detection Kit, UltraView SISH DNP Detection Kit, and Agilent’s Instrument Cleaning Kit.
Researchers get to explore outcomes associated with disease etiology through anatomical pathology protocols.
Also, anatomic pathology plays an important role in assessing toxicology. On similar grounds, research laboratories are engaging in making available comprehensive information regarding the way diseased tissues function. This would, in turn, result in patient satisfaction of a higher degree.
The biomarkers used in detection of cancer include vimentin, keratins, HEPAR1, RCC, CDX2, CD30, CD20, CD3, CD45, S100protein, and HMB-45.
The tissue diagnostic products’ sales are expected to witness a stupendous rise due to increase in volumes of biomarkers being used across various diagnostic processes.
The above-mentioned trends are expected to take the anatomic pathology market at a higher stride in the years to come.
Market Characteristics and Attributes with Regional Relevance, 2020
The market is characterized by high revenue volatility. Though the attribute of anatomic pathology market of being exposed to high revenue volatility is limited to established markets.
Companies in India and China have been reported to reflect nominal volatility in demand growth. The demand – supply gap is well absorbed by consumption in domestic market. Graph above highlights some of the key attributes of the market with impression of regional variance of the same.
The North America anatomic pathology market is likely to grow at a steady pace during the forecast period.
This can be attributed to the presence of the key players coupled with supportive initiatives by the governments regarding implementation of pathological programs.
Also, feasible reimbursement policies all over the US are encouraging the implementation of tissue-diagnostics-related procedures.
Europe anatomical pathology market is the second largest all over the globe. R&D and funding has traditionally remained concentrated in western Europe, and the status-quo is likely to remain unchanged during the assessment period.
Asia-Pacific is expected to grow at the fastest pace due to an exponential demand for “technologically advanced” imaging modalities, along with rise in patient care initiatives, and growing number of pathology laboratories promulgating their franchisees herein.
Key Players in the Anatomic Pathology Market
The key market players are focusing on multi-pronged strategies for maintaining their share in the market between 2020 and 2030. These strategies are inclusive of business expansion, collaborative development, and new product launches.
For instance –
- In Apr 2020, BioGenex announced releasing 2 novel antibodies to diagnose cancer. They come across as rabbit polyclonal immunohistochemistry (IHC) grade antibodies and are being offered with BioGenex detection systems, treatment reagents, and validated protocols to facilitate intense and crisp staining.
- In Mar 2020, NeoGenomics announced that it had inked a 3-year contract with HPG (HealthTrust Purchasing Group) with effect from Mar 1, 2020 to serve as cornerstone laboratory for Specialized Reference laboratory for the latter’s Oncology & Cancer Genetics
- Agilent Technologies, in Jun 2018, launched a spectrum of probes like IGH/CCND1, IGH/BCL2, IGH/MYC, IGH, BCL6, MYC, CCND1, BCL2, and MALT1 to facilitate in situ hybridization. These products have certainly improved company’s position over here.
The other players in the market include:
- Bio SB
- Laboratory Corporation of America Holdings
- Quest Diagnostics Incorporated
- Sakura Finetek USA, Inc.
- F.Hoffmann-La Roche AG
- Cardinal Health, Inc.
- Thermo Fisher Scientific, Inc.
The Way Forward
The global anatomic pathology market is expected to witness a CAGR of 7.1% between 2020 and 2030. Though Covid-19 has stalled the market, recovery is expected in 2021.
The key players are competing on distribution partnerships, technological advancements, and capital support regarding the same, product differentiation, and aggressive pricing.
Going forward, strategic collaborations need to be in place, as they are the need of the hour for spreading to larger number of geographies
Product & Services Type
- Disease Diagnosis
- Drug Discovery and Development
- Research Laboratories
- Diagnostic Laboratories
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa